REG - Thruvision Group PLC - Trading update and Progress on Strategic Review

ThruvisionAnnouncement

13/02/2025 07:00

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RNS Number : 9250W  Thruvision Group PLC  13 February 2025

13 February 2025

Thruvision Group plc

Trading update and Progress on Strategic Review

 

Thruvision (AIM: THRU, "Thruvision" or the "Group"), the leading international
provider of walk- through security technology, today publishes a trading
update for the current financial year ending 31 March 2025.

Trading Update

The Board announced on 14 January 2025 the launch of a Strategic Review and
noted that it had a number of significant near-term opportunities (the
"Material Opportunities") with a potential contract value for the financial
year ending 31 March 2026 of approximately £15 million. It further noted
significant milestones for these Material Opportunities were scheduled for the
fourth quarter of the financial year ending 31 March 2025.

 

Whilst all of these Material Opportunities remain intact, recent discussions
with associated customers have confirmed that they will predominantly not
start before the next financial year and therefore that their impact on the
current financial year ending 31 March 2025 will be minimal. Accordingly, the
Board now expects that Group revenue for the current financial year ending 31
March 2025 will be in the range of £5 to £6 million compared with the
previous guidance of £9 million.

 

The Board continues to anticipate that the cash resources of the Group will
last until approximately the end of May 2025.

Strategic Review

Since the announcement of the Strategic Review on 14 January 2025 discussions
have been held, and are continuing, with a number of parties. It is hoped that
one or more offers to either acquire the Group or to provide additional cash
resources will be forthcoming although there can be no certainty that such
offers will materialise.

 For further information, please contact:
 Thruvision Group plc                              +44 (0)1235 425400

 Tom Black, Executive Chairman

 Victoria Balchin, Chief Executive Officer
 Investec Investment Banking (NOMAD & Broker)      +44 (0)20 7597 5970

 Patrick Robb / James Rudd / Sebastian Lawrence

 

About Thruvision (www.thruvision.com (http://www.thruvision.com/) )

Thruvision is the leading developer, manufacturer and supplier of advanced
AI-based walk- through security technology internationally. Its technology is
deployed in more than 30 countries around the world by government and
commercial organisations in a wide range of security situations, where large
numbers of people need to be screened quickly, safely and efficiently.
Thruvision's patented technology is uniquely capable of detecting concealed
objects in real time using advanced AI-based detection algorithms.

The Group's offices are near Oxford and Washington DC.

 

Important information

This announcement may include statements that are, or may be deemed to be,
'forward-looking statements' (including words such as 'believe', 'expect',
'estimate', 'intend', 'anticipate' and words of similar meaning). By their
nature, forward-looking statements involve risk and uncertainty since they
relate to future events and circumstances, and actual results may, and often
do, differ materially from any forward-looking statements. Any forward-looking
statements in this announcement reflect management's view with respect to
future events as at the date of this announcement. Save as required by
applicable law, the Company undertakes no obligation to publicly revise any
forward-looking statements in this announcement, whether following any change
in its expectations or to reflect events or circumstances after the date of
this announcement.

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